This should do the trick:
def function_name(input_string):
should_capitalize = True
chars = []
for single_char in input_string:
if not single_char.isalpha():
chars.append(single_char)
continue
if should_capitalize:
chars.append(single_char.upper())
else:
chars.append(single_char.lower())
should_capitalize = not should_capitalize
return ''.join(chars)